Snail, Inc. Announces Entry Into At The Market Offering Agreement
Snail Inc. (NASDAQ: SNAL), a global interactive digital entertainment developer and publisher, has entered into an At The Market Offering Agreement with H.C. Wainwright & Co. The agreement allows Snail to sell shares of its Class A Common Stock with an aggregate offering price of up to $4.5 million.
The company plans to use the net proceeds primarily for working capital to support its digital asset initiative, including the evaluation and development of a proprietary U.S. dollar-backed stablecoin. Some proceeds will also serve as reserve assets for the planned stablecoins.
The offering will be conducted through a prospectus supplement filed with the SEC on August 7, 2025, under the company's effective shelf registration statement.
Snail Inc. (NASDAQ: SNAL), sviluppatore e editore globale di intrattenimento digitale interattivo, ha stipulato un Accordo di Offerta Sul Mercato con H.C. Wainwright & Co. L'accordo consente a Snail di vendere azioni della sua Classe A Common Stock con un prezzo complessivo di offerta fino a 4,5 milioni di dollari.
L'azienda prevede di utilizzare i proventi netti principalmente come capitale circolante per supportare la sua iniziativa sugli asset digitali, incluso la valutazione e lo sviluppo di una stablecoin proprietaria ancorata al dollaro statunitense. Una parte dei proventi sarà inoltre destinata a riserve per le stablecoin pianificate.
L'offerta sarà effettuata tramite un supplemento al prospetto depositato presso la SEC il 7 agosto 2025, nell'ambito della dichiarazione di registrazione a scaffale efficace della società.
Snail Inc. (NASDAQ: SNAL), desarrollador y editor global de entretenimiento digital interactivo, ha firmado un Acuerdo de Oferta en el Mercado con H.C. Wainwright & Co. El acuerdo permite a Snail vender acciones de su Clase A Common Stock con un precio total de oferta de hasta 4,5 millones de dólares.
La compañía planea usar los ingresos netos principalmente para capital de trabajo que apoye su iniciativa de activos digitales, incluyendo la evaluación y desarrollo de una stablecoin propia respaldada por el dólar estadounidense. Parte de los ingresos también se destinarán como activos de reserva para las stablecoins planificadas.
La oferta se realizará mediante un suplemento al prospecto presentado ante la SEC el 7 de agosto de 2025, bajo la declaración de registro en estantería vigente de la compañía.
Snail Inc. (NASDAQ: SNAL)는 글로벌 인터랙티브 디지털 엔터테인먼트 개발 및 퍼블리셔로서 H.C. Wainwright & Co.와 시장 내 공모 계약(At The Market Offering Agreement)을 체결했습니다. 이 계약을 통해 Snail은 최대 총 450만 달러 규모의 클래스 A 보통주를 판매할 수 있습니다.
회사는 순수익을 주로 디지털 자산 이니셔티브 지원을 위한 운전자본으로 사용할 계획이며, 여기에는 미국 달러에 연동된 독자적인 스테이블코인 평가 및 개발이 포함됩니다. 일부 수익은 계획된 스테이블코인의 준비 자산으로도 사용됩니다.
이번 공모는 회사의 효력 있는 선반 등록 명세서에 따라 2025년 8월 7일 SEC에 제출된 증권신고서 보충서를 통해 진행됩니다.
Snail Inc. (NASDAQ: SNAL), développeur et éditeur mondial de divertissement numérique interactif, a conclu un accord d’offre sur le marché (At The Market Offering Agreement) avec H.C. Wainwright & Co. Cet accord permet à Snail de vendre des actions de sa Classe A Common Stock pour un montant total pouvant atteindre 4,5 millions de dollars.
L’entreprise prévoit d’utiliser les produits nets principalement comme fonds de roulement pour soutenir son initiative sur les actifs numériques, y compris l’évaluation et le développement d’un stablecoin propriétaire adossé au dollar américain. Une partie des produits servira également de réserve pour les stablecoins prévus.
L’offre sera réalisée via un supplément au prospectus déposé auprès de la SEC le 7 août 2025, dans le cadre de la déclaration d’enregistrement en vigueur de la société.
Snail Inc. (NASDAQ: SNAL), ein globaler Entwickler und Verlag für interaktive digitale Unterhaltung, hat eine At The Market Offering Vereinbarung mit H.C. Wainwright & Co. abgeschlossen. Die Vereinbarung erlaubt Snail, Aktien seiner Klasse A Stammaktien mit einem Gesamtangebotspreis von bis zu 4,5 Millionen US-Dollar zu verkaufen.
Das Unternehmen plant, die Nettoerlöse hauptsächlich als Arbeitskapital zur Unterstützung seiner digitalen Asset-Initiative zu verwenden, einschließlich der Bewertung und Entwicklung einer proprietären, an den US-Dollar gebundenen Stablecoin. Ein Teil der Erlöse wird auch als Reservevermögen für die geplanten Stablecoins dienen.
Das Angebot wird durch einen Prospektergänzungsbericht durchgeführt, der am 7. August 2025 bei der SEC im Rahmen der wirksamen Shelf-Registrierung des Unternehmens eingereicht wird.
- Potential to raise up to $4.5 million in working capital
- Strategic expansion into digital assets and stablecoin market
- Potential dilution for existing shareholders
- Entry into volatile crypto market poses new risks
Insights
Snail's $4.5M offering signals dilution risk while pivoting toward cryptocurrency with a planned stablecoin initiative.
Snail has announced a $4.5 million at-the-market (ATM) offering agreement with H.C. Wainwright, allowing the company to issue new shares over time at prevailing market prices. This financing mechanism provides flexibility but represents potential shareholder dilution as new shares enter the market. The ATM structure is notably less disruptive than a traditional secondary offering as it allows gradual share issuance rather than a single large placement.
What's particularly significant is the stated use of proceeds - Snail is explicitly pivoting toward digital assets, specifically developing a proprietary stablecoin backed by U.S. dollars. This represents a substantial strategic shift for a company primarily known as a video game developer and publisher. The company intends to use some proceeds as actual reserve assets backing their planned stablecoin.
This move comes amid increased regulatory scrutiny of cryptocurrency initiatives, especially stablecoins, which have faced challenges maintaining their pegs during market volatility. For a gaming company with limited prior blockchain experience to enter this space suggests either strategic diversification or potential desperation for new revenue streams. Without specifics on implementation timelines, regulatory approvals, or integration with existing products, investors should view this initiative with caution. The relatively modest offering size of $4.5 million also raises questions about whether this amount is sufficient to properly capitalize a stablecoin with adequate reserves to maintain stability.
CULVER CITY, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Snail, Inc. (Nasdaq: SNAL) (“Snail” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, announced that it has entered into an At The Market Offering Agreement (the “Sales Agreement”) with H.C. Wainwright & Co. as sales agent to sell its shares of Class A Common Stock, par value
Snail, Inc. currently intends to use the net proceeds from the sale of the shares of the Class A Common Stock offered by the Company under the Sales Agreement (if any) primarily for working capital to support the Company’s digital asset initiative that includes the evaluation and feasibility for introduction of the Company’s own proprietary stablecoin backed by U.S. dollars and for certain net proceeds to serve as the reserve asset for the stablecoins that the Company intends to issue.
The sales, if any, of the Shares made in the Offering will be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the Nasdaq Capital Market (the “Nasdaq”) or any other existing trading market for the Class A Common Stock.
The Offering will be made only by means of a prospectus supplement, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 7, 2025, together with the accompanying base prospectus contained therein (the “Prospectus Supplement”), which Prospectus Supplement forms a part of the Company’s shelf registration statement on Form S-3 (File No. 333-282030) (the “Registration Statement”), which was declared effective by the SEC on September 20, 2024. Electronic copies of the Prospectus Supplement and accompanying base prospectus may be obtained on the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022 at atm@hcwco.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares of Class A Common Stock discussed herein, nor shall there be any sale of such shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "may," "predict," "continue," "estimate" and "potential," or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in our public filings with the SEC and include, but are not limited to, statements regarding (i) that we will sell shares of Class A Common Stock, if any, in the Offering and the price at which any such shares will be sold, (ii) that investors who buy shares at different times in the Offering will likely pay different prices, (iii) the proposed use of proceeds, if any, from the Offering, and (iv) the Company’s ability to successfully explore a strategic digital asset initiative that includes the evaluation and feasibility for introduction of its own proprietary stablecoin backed by U.S. dollars, including, but not limited to the various licensing requirements and significant compliance costs that the Company will face to implement such initiative. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC, the Company’s Current Reports on Form 8-K and other documents filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
SNAL@gateway-grp.com
FAQ
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